Calibre Group Limited
(ASX:CGH) has announced its second acquisition in a month, buying Queensland based G&S Engineering Services for $39 million in cash and a scrip initial payment.
The resources and infrastructure focussed engineering company says the purchase will significantly increase its exposure to ongoing asset management.
G&S Engineering Services provides operations, maintenance and asset management services to the coal sector and is expected to contribute revenue of up to $160 million to Calibre’s annual result.
Calibre bought Queensland based mine engineering and planning group Echelon Mining Services last month, who generated revenue of about $8 million last year.
Calibre Group boosted its net profit by 71 per cent to $46.7 million in the 2012 financial year.
